Hersha Hospitality Trust, a Philadelphia-based real estate investment trust, has priced a public offering of 6 million shares of common stock at $9.90 per share. The hotel REIT said the estimated net proceeds of $56.4 million are expected to be used to repay debt. UBS Investment Bank and Raymond James & Associates are the joint book-running managers of the offering. The company said it has granted the underwriters an option to buy up to 900,000 additional shares to cover any overallotments. Hersha can be found on the Web at http://www.hersha.com.
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